Steve Bates, BIA CEO

UK's 're­silien­t' life sci­ences sec­tor hopes for up­turn af­ter de­creas­es in fi­nanc­ing, ven­ture cap­i­tal in 2023 — re­port

The UK’s life sci­ences sec­tor took on an­oth­er tough year in 2023, see­ing de­creas­es in both eq­ui­ty fi­nanc­ing and raised ven­ture cap­i­tal, both of which dropped last year from 2022, ac­cord­ing to a new re­port from the UK BioIn­dus­try As­so­ci­a­tion.

But giv­en a “chal­leng­ing glob­al eco­nom­ic cli­mate,” the trade group said the UK’s biotech in­dus­try showed “re­mark­able re­silience and in­vest­ment,” with hopes for re­cov­ery in 2024.

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA